LONDON Oct 9 Miner Vedanta posted a 9
percent drop in metal mined from its Indian zinc operations in
its second quarter, and said that saleable iron ore output
plunged 86 percent, hit by mining bans and monsoon travel
Its zinc India business accounted for over a quarter of
Vedanta's earnings in its last financial year, with iron ore and
oil and gas the second and third biggest earners respectively.
Vedanta's iron ore production has been hit by a ban on
mining in the Indian state of Karnataka for over a year, and a
more recent temporary restriction on extracting in Goa, where
monsoons have also hindered transport in this quarter.
The company said it now expected to be able to restart
mining in Karnataka once it received Supreme Court approval, as
some mining was allowed to resume in the state, while in Goa it
said it was working closely with the authorities to try to
complete a review.
Mined metal production at its zinc India business was
expected to rise in its second half, Vedanta said, meaning that
full-year production was on course to be higher than the
The company, which bought a stake in Rajasthan oil firm
Cairn India in 2011, said its oil and gas working
interest production rose 30 percent in the period.
In aluminum, production fell 10 percent in the quarter due
to the lower supply of bauxite from third parties.